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sp2606 [1]
4 years ago
14

A market is described by the following supply-and-demand curves:QS = 2PQD = 300−PSuppose the government imposes a price ceiling

of $90. This price ceiling is (Binding/non-binding) and the market price will be $ ______. The quantity supplied will be ______, and the quantity demanded will be ______. Therefore, a price ceiling of $90 will result in (Shortage/ a surplus/ neither a shortage nor surplus).
Business
1 answer:
Zarrin [17]4 years ago
3 0

Answer:

Binding

$100

200

200

Shortage

Explanation:

A price ceiling is when the government or an agency of the government sets the maximum price for a good.

A price ceiling is binding when the price ceiling is below the equilibrium price.

To find the equilibrium price, equate qs to qd because at equilibrium, quantity supplied is equal to quantity demanded.

2P = 300 - P

3P = 300

P = 100

Equilibrium price is $100.

$100 > $90. Therefore, price ceiling is binding.

To find quantity supplied, plug in the value of P into the equation for quantity supplied

QS = 2(100) = 200

To find quantity demanded, plug in the value of P into the equation for quantity demanded

QD = 300 - 100 = 200

when price is below equilibrium price, quantity demanded increases while the quantity supplied decreases. This leads to a shortage.

I hope my answer helps you

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meriva

A small start-up is a good fit for Alex.

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Despite their tiny size, startups can have a big impact on the expansion of the economy. Startups are the epicenters of the invention; they generate jobs, which increases employment and boosts the economy; and they have a noticeable influence on the cities in which they settle.

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8 0
2 years ago
Higgins Company plans to incur $380,000 of salaries expense if a capital project is implemented. Assuming a 40% tax rate, the sa
AlexFokin [52]

Answer:

d) $228,000 outflow

Explanation:

Calculation for the amount that the salaries should be reflected in the analysis

Using this formula

Salaries=Salaries expense-(Salaries expense*Tax rate)

Let plug in the formula

Salaries=$380,000-($380,000*40%)

Salaries=$380,000-$152,000

Salaries=$228,000 Outflow

Therefore salaries should be reflected in the analysis by a: $228,000 outflow

8 0
3 years ago
Under _____ uncertainty avoidance employees are willing to change jobs more frequently
maxonik [38]
The answer is "high uncertainty avoidance".

Countries indicating high uncertainty avoidance have a low tolerance for uncertainty and ambiguity in most everyday circumstances. Individuals who are living in the societies with a low tolerance to vulnerability will likewise have a tendency to set up laws, principles, directions and control components to keep any vagueness or hazard.Nations in Latin America, Japan and Germany are a few cases of where there is high uncertainty avoidance.
3 0
3 years ago
Merchandise that arrives in the delivery truck ready to be sold is considereda. Floor-readyb. Lead time synchronized c. Synthesi
Naddik [55]

Answer:

The correct answer is letter "A": Floor-ready.

Explanation:

Floor-ready merchandise is goods shipped pre-ticketed and tagged according to the sale requirements of a store. The pre-ticketing and tagging of the goods take place before the products reach the destination. This kind of merchandise has the most similar demonstration of the product as if it would have been displayed in the store.

3 0
3 years ago
James hires Franco for a painting job. Their contract explicitly states that​ Franco's employment can be terminated if he is emp
brilliants [131]

Answer: condition subsequent

                                         

Explanation:  A condition subsequent is an incident or set of circumstances that bring something to a conclusion. A subsequent circumstance is being used as a symbol in a legal sense to put an end of one's constitutional rights or responsibilities.

This generally occurs when someone do anything illegal or unethical in the eyes of law. In the given case, Franco got employed by some other party although he had a contract with James that he cannot do that. Hence we can conclude that the given case depicts condition subsequent.

8 0
3 years ago
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